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First National Bank of Omaha Decreases Stake in Valmont Industries, Inc. (NYSE:VMI)

Defense World · Sep 16, 2022 06:42

First National Bank of Omaha trimmed its holdings in shares of Valmont Industries, Inc. (NYSE:VMI – Get Rating) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,875 shares of the industrial products company's stock after selling 75 shares during the period. First National Bank of Omaha's holdings in Valmont Industries were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in Valmont Industries by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 2,739 shares of the industrial products company's stock worth $654,000 after acquiring an additional 40 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Valmont Industries by 69.6% during the 1st quarter. Quadrant Capital Group LLC now owns 117 shares of the industrial products company's stock valued at $28,000 after buying an additional 48 shares during the period. Wambolt & Associates LLC grew its holdings in shares of Valmont Industries by 2.9% during the 1st quarter. Wambolt & Associates LLC now owns 1,863 shares of the industrial products company's stock worth $459,000 after purchasing an additional 52 shares during the period. WealthPLAN Partners LLC grew its holdings in shares of Valmont Industries by 0.3% during the 1st quarter. WealthPLAN Partners LLC now owns 26,160 shares of the industrial products company's stock worth $6,509,000 after purchasing an additional 77 shares during the period. Finally, FCA Corp TX grew its holdings in shares of Valmont Industries by 0.6% during the 1st quarter. FCA Corp TX now owns 15,293 shares of the industrial products company's stock worth $3,649,000 after purchasing an additional 93 shares during the period. 88.60% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other Valmont Industries news, CEO Stephen G. Kaniewski sold 12,076 shares of the company's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $269.41, for a total value of $3,253,395.16. Following the completion of the transaction, the chief executive officer now owns 43,844 shares in the company, valued at approximately $11,812,012.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Valmont Industries news, CEO Stephen G. Kaniewski sold 12,076 shares of Valmont Industries stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $269.41, for a total transaction of $3,253,395.16. Following the completion of the sale, the chief executive officer now directly owns 43,844 shares in the company, valued at $11,812,012.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy P. Francis sold 980 shares of the company's stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $284.98, for a total transaction of $279,280.40. Following the sale, the senior vice president now owns 5,938 shares of the company's stock, valued at $1,692,211.24. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Valmont Industries Price Performance

Shares of NYSE VMI opened at $275.76 on Friday. The company has a fifty day moving average price of $267.00 and a 200 day moving average price of $249.75. The company has a current ratio of 2.23, a quick ratio of 1.29 and a debt-to-equity ratio of 0.64. Valmont Industries, Inc. has a 1-year low of $203.30 and a 1-year high of $289.98. The firm has a market cap of $5.89 billion, a PE ratio of 27.36, a PEG ratio of 1.68 and a beta of 1.11.

Valmont Industries (NYSE:VMI – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $3.70 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.36. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1 billion. Valmont Industries had a return on equity of 17.71% and a net margin of 5.49%. Valmont Industries's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 earnings per share. Research analysts predict that Valmont Industries, Inc. will post 13.86 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, September 22nd. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. Valmont Industries's dividend payout ratio is 21.83%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Northcoast Research initiated coverage on Valmont Industries in a research report on Friday, July 15th. They issued a "buy" rating and a $300.00 target price on the stock. Roth Capital initiated coverage on Valmont Industries in a research report on Friday, June 3rd. They issued a "buy" rating and a $297.00 price target for the company. Stifel Nicolaus lowered their price target on Valmont Industries from $300.00 to $267.00 in a report on Monday, July 18th. Finally, TheStreet raised shares of Valmont Industries from a "c+" rating to a "b+" rating in a research report on Thursday, August 25th.

Valmont Industries Profile

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Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Brazil, Denmark, and internationally. It operates through two segments: Infrastructure and Agriculture. The company manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.